except it is, WASM is designed to be AOT compiled to native code.
Sure there is a bit of difference, WASM needs additional bounds checks and WASM also doesn't have all the info a more high level compiler has.
Now Unity is so much more then just a tool to make cross platform easier. So comparing it to WASM is kinda pointless IMHO. Though it probably is a grate choice for any extension mechanism, like mods or even in game scripting.